CNL Hotels & Resorts
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CNL Hotels & Resorts (formerly known as CNL Hospitality Properties) has changed hands and is now a part of Morgan Stanley's real estate unit. Former parent CNL Financial sold the real estate investment trust (REIT) in 2007. Morgan Stanely retained the eight luxury resorts and sold the remaining 50 or so midrange, extended-stay, and other properties to Ashford Hospitality Trust. CNL Hotels & Resorts' portfolio now includes luxury resort hotels in Hawaii, Arizona, California, and Florida.